๐จ Thailand launches a national crypto fund for foreign tourists: A historic step towards widespread adoption!
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๐ฆ Initiative details:
โ The Securities and Exchange Commission and the Central Bank of Thailand announce the launch of a national regulatory crypto fund
โ It allows foreign tourists to convert digital currencies to Thai baht and spend them locally through electronic payment platforms
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๐ What's new?
โ Official expansion of the "Pocket Fund" pilot program to cover all of Thailand
โ Tourists can use converted baht via QR codes for payments in markets, hotels, and restaurants
โ Spending is allowed up to เธฟ50,000 monthly for small vendors and เธฟ500,000 for large vendors
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๐ก๏ธ Strict conditions:
โ Only platforms licensed by the SEC and the Central Bank are allowed to participate
โ Tourists must pass KYC and anti-money laundering procedures
โ The program is subject to public review until August 13
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๐ก Why does it matter?
โ It transforms Thailand into a leading digital tourist destination
โ It enhances the adoption of digital currencies without affecting the stability of the financial system
โ It paves the way for similar experiences in other tourism-dependent countries
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